Core Facts on SK Hynix IPO
SK Hynix, a leading South Korean memory chip manufacturer, has launched the largest U.S. initial public offering (IPO) ever by a foreign company, pricing 177.9 million American depositary shares at $149 each, raising approximately $26.5 billion. This offering surpassed Alibaba’s $25 billion debut in 2014 and ranks only second to SpaceX’s June listing among all U.S. IPOs. The shares began trading on the Nasdaq on Friday and closed at $168.01, up 12.8% from the offer price.
The IPO was more than seven times oversubscribed, reflecting strong demand for AI memory solutions, an area where SK Hynix commands 58% of high-bandwidth memory (HBM) revenue. The funds raised will be allocated to establishing new fabrication plants and enhancing manufacturing capacity in South Korea. Additionally, Micron Technologies reports significant revenue growth, predicting about $50 billion in fiscal fourth-quarter revenue, up from $41.5 billion in the previous quarter.
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